Detour Gold Addresses Further Misleading Statements by Activist Paulson & Co.
TORONTO, July 19, 2018 /CNW/ - Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company") addresses further misleading statements by activist Paulson & Co. ("Paulson").
Paulson is at it again, compounding its false and misleading statements to the market.
The Company did not disclose material information to Paulson because the Company already had written evidence that Paulson was in possession of that precise information from a third party - it's really that simple. Detour Gold's effort in approaching Paulson to enter into a simple confidentiality agreement, which Paulson refused to do, was to contain the fallout from Paulson's inappropriate activities. It is clearly wrong to file bits and pieces of a record to manipulate the market.
The Company has also sent a litigation hold letter to Paulson and its senior officers in order to ensure that Paulson maintains the full written, electronic and telephonic record of its activities with other market participants.
As for Paulson's threat of running a proxy battle, we have heard this for many months now. If they choose to proceed, shareholders will have a stark choice -- a fire sale by a US hedge fund versus an experienced team executing the 2018 life of mine plan while remaining open, as it has historically been, to value accelerating opportunities.
The unprecedented market interference by Paulson will not deter Detour Gold from remaining focused. We will continue to positively engage with shareholders.
Advisors
The Company has retained Kingsdale Advisors as its strategic shareholder and communications advisor, BMO Capital Markets as its financial advisor, and McCarthy Tétrault LLP and Norton Rose Fulbright LLP as its legal advisors.
About Detour Gold
Detour Gold is an intermediate gold producer in Canada that holds a 100% interest in the Detour Lake mine, a long life large-scale open pit operation. Detour Gold's shares trade on the Toronto Stock Exchange under the trading symbol DGC.
For further information, please contact:
Media Contact:
Ian Robertson
Executive Vice President, Communication Strategy
Kingsdale Advisors
Direct: 416-867-2333
Cell: 647-621-2646
Email: irobertson@kingsdaleadvisors.com
Shareholder and Investor Contact:
Laurie Gaborit, VP Investor Relations
Detour Gold Corporation
Tel: 416-304-0581
Email: lgaborit@detourgold.com
Detour Gold Corporation, Commerce Court West, 199 Bay Street, Suite 4100, P.O. Box 121, Toronto, Ontario M5L 1E2
SOURCE Detour Gold
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